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Ottawa Citizen: Revitalized Corel recoups recent losses

Jun 01, 2000, 11:12 (2 Talkback[s])
(Other stories by Bert Hill)

"Corel Corp. stock snapped back 21 per cent yesterday, regaining almost all the recent losses caused by market jitters over the troubled company's future."

"A string of positive press releases, including a deal with a free U.S. internet service provider, lifted the stock to $5.45 yesterday. The agreement with Spinway Inc. will offer Corel customers free Internet access through its websites."

"Corel has a deal with Cannacord Capital to buy up to $30 million in stock to ease a potential cash crunch. That deal appears likely to amount to 7.3 million shares, or 11.6 per cent of company stock, if Corel decides to exercise the full $30 million deal in the near future."

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